What's a bank journal?
Our bank journal now displays accounts payable and a Payable reference that gives your accounting software the possibility to match the entries of the purchase journal.
What is included in the bank journal?
In the bank journal we show payables' corresponding payments displayed for a given period. No matter whether the payables are "marked as ready" in 'Bookkeep>Prepare' or not - the corresponding payments for an exported period in 'Bookkeep>Export' are going to be shown in the bank journal.
Set up and use the new bank journal
Set up your accounting tab to use the Spendesk bank Journal
If you haven't filled your accounting codes yet, head to this page:
The setup of expense accounts, VAT accounts, and accounts payable is mandatory to use the Purchase Journal. In the Prepare tab, accounts payable must be selected if you want to export a line.
1. Bank accounts
Fill in your different general accounting codes: Spendesk bank account, Bank fees account, Spendesk-funding bank account...
👉🏻 Great news for your accountant! Bank fees are now reflected in the bank journal (previously in the purchase journal).
2. Expense accounts
Enter your own expense accounts along with their corresponding codes to replicate your current system.
3. VAT accounts
Set up your own VAT accounts by providing a name (account name) along with a corresponding rate (%) and VAT code.
4. Reverse charge
When reverse-charge applies, the following tax accounts will be charged and credited.
Fill in the Reverse charge name, Debit code, Credit code.
👉🏻 Great news for your accountant! You can now insert multiple reverse-charge accounts in the Accounting settings!
5. Supplier accounts
If you'd like to add specific accounts payable against suppliers, head out to this page: 'Settings > Accounts payable'.
👉🏻 This will be useful to set up your Purchase journal. Supplier invoices are indeed not yet in the Bank journal, as they are not paid via Spendesk for now!
6. Miscellaneous supplier account
This generic account payable will be assigned to all purchases where a specific account payable is not saved.
7. Employee accounts
Enter your own employee accounts along with their corresponding codes to replicate your current system. You can also use a custom default account for employees without an employee account. This custom default account can be enabled/disabled at any time.
Start typing the name of the employee, then assign them an employee account.
8. Bookkeeping date
Choose the start date of your bookkeeping.
All the payables before this date are going to be hidden from the Prepare tab. But these payables will be shown in the tab “Bookkeep>All payables” with the status “Hidden”. This action is not irreversible and you will still be able to edit the date afterwards.
Use the bank journal
The new bank journal and purchase journal are now complementary. Our bank journal now reflects payments of supplier accounts vs the Spendesk bank account.
Both can be used in their current form in accounting software.
The bank journal of a bank account registers all movements on the bank account (in 512XXX in France) and the counterparts on accounts payables (in France 40XXXX accounts).
👉🏻 Since we now cover fully the Accounts Payable, accounting teams can now check the two journals for reconciliation purposes.
All clear? Now check our out our Purchase journal article!